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A 32 inch LCD TV was $15,000 when I was in high school; today it is $79. Encyclopedia Britannica was $8000; today Wikipedia has more content and is more accurate and is instantly and universally accessible to everyone everywhere through a pocket-sized device obtainable for $100 and $20/month.

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Advancing technology is great, and yes, economically deflationary.

Some less creature-comfort things unfortunately have outpaced wages in the US: housing, education, and health care coming in at #1.

Granted, we have medicines and technologies we did not before.

Education is essentially free on the internet. You cant get a diploma from a fancy university, but the knowledge is available.

Housing costs are high in some areas, but still incredibly low in others. The internet has enabled knowledge workers to work remotely so they can live in low cost areas.

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